Outdoor financials: Thule acquires Chariot for bike trailers; KKR buying Academy Sports; Quicksilver Q2 earnings mixed

It's an acquisition spree -- Thule acquires Chariot Carriers and KKR is buying retailer Academy Sports + Outdoors. Plus Quicksilver's second-quarter earnings.

The Thule Group, best known for its vehicle roof racks, will add bicycle trailers and child carriers to its product lineup after acquiring Chariot Carriers Inc. June 2.

Brothers Dan and Chris Britton, who founded Chariot nearly 20 years ago, and CEO Pierre Doyon sold the Canada-based company to Sweden-based Thule for an undisclosed amount.

“The acquisition is a natural step in the Thule Group's increased focus on consumer products for an active lifestyle,” company officials said in a press release. “Chariot bicycle trailers and multi-functional child carriers are designed for parents committed to an active lifestyle by bringing their children conveniently, safely and in style in their family adventures.”

Chariot carriers can be adapted for cycling, jogging, strolling, hiking and even skiing. The company employs about 30 people in Calgary, where it will remain. Dan Britton will stay on as director of innovation.

KKR to acquire Academy Sports

Private equity firm Kohlberg Kravis Roberts & Co. L.P. announced June 1 plans to purchase outdoor, fitness and sporting goods retailer Academy Sports + Outdoors.

Financial terms of the deal were undisclosed, but the selling Gochman family plans to retain a minority ownership stake, officials said.

Katy, Texas-based Academy Sports has 131 locations in 11 states in the Southeast. It recorded $2.7 billion in revenue in 2010 and employs 16,000 people. Company officials said the deal with New York-based KKR will help accelerate growth.

The deal is expected to close in six to eight weeks, after which Academy Sports President Rodney Faldyn will be promoted to CEO and retain his current title.

Quicksilver Q2 revenue up, but reports loss

Quicksilver Inc. (NYSE:ZQK) reported higher fiscal second-quarter 2011 revenue, but swung to a loss on charge-offs and debt reduction.

The Huntington Beach, Calif.-based outdoor lifestyle apparel brand reported revenue up 2 percent to $478.1 million for its fiscal second quarter, ended April 30, 2011, compared to the same period a year ago.

Sales were strongest in the Americas, up 5 percent to $210.7 million, but weaker in Europe ($206.9 million) and Asia ($58.1 million) – both each down 1 percent.

Quicksilver reported a quarterly net loss of $83.3 million, or a loss of $0.51 per diluted share, compared to a profit of 9.4 million, or $0.07 per diluted share a year ago. The steep loss was largely due to charge-offs and paying down debt. The company reduced its debt to $594 million – down 19 percent from a year ago.

-- Compiled by David Clucas

For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.snewsnet.com/stockreport



Did you hear?... KKR acquiring Academy Sports

It’s a good sign to see Wall Street taking an interest in fitness again. On June 1, private equity firm Kohlberg Kravis Roberts & Co. L.P. announced plans to acquire Academy Sports + Outdoors (www.academy.com) through the purchase of a majority share of the retailer. Financial ...read more

Outdoor financials: BD, Gregory parent posts Q3 results, plus Thule acquires TracRac, Columbia Sportswear, Amer Sports

BD, Gregory parent posts Q3 results With the acquisition of Black Diamond Equipment and Gregory Mountain Products completed in late May, Clarus Corp. (Nasdaq: BDE) reported a 9.7-percent increase in third-quarter consolidated sales. For the quarter ended Sept. 30, consolidated ...read more


Financials: Strong footwear, apparel sales drive Hibbett 3Q earnings up; plus Maurice Sporting Goods to acquire Canadian peer

Hibbett Sports (Nasdaq:HIBB) reported higher revenue and profit for the third quarter 2011, boosted by strong apparel and footwear sales. The Birmingham, Ala.-based sporting goods chain reported third-quarter revenue up 10.6 percent to $185.2 million, compared to $167.4 million ...read more


Outdoor financials: Quicksilver quarterly revenue down, loss widens

Quicksilver, Inc. (NYSE:ZQK) reported lower revenue and a bigger loss for its fiscal first quarter 2011, ended January 31. The Huntington Beach, Calif.-based outdoor lifestyle clothier and retailer, said on March 10 its latest quartetly revenue dipped to $426.5 million, down 1.4 ...read more

Outdoor financials: Dick's Sporting Goods' Q2 earnings dip, plus Hibbett Sports

Dick's Sporting Goods' Q2 earnings dip Dick's Sporting Goods (NYSE: DKS) said its second-quarter profit dipped 2.5 percent, while sales were boosted 4 percent by the opening of new stores and e-commerce sales. Earnings fell to $38.9 million, or $0.33 per share, compared with $40 ...read more

Outdoor financials: Prana acquires Scapegoat and Timberland net loss widens in Q2, plus K2, Jarden, Garmin buys Italian distributor, Sport Chalet, VF, Cabela's, Liz Claiborne, Big 5

Prana acquires Scapegoat technical outerwearPrana has acquired Scapegoat, a technical outerwear manufacturer that launched its first line in January 2007. The line will now be called Scapegoat by prAna. Scapegoat founders Jason Olden and Eric Lyon and prAna. Prana acquired the ...read more

Fitness financials: Best Buy posts 60 percent rise in Q2 income

Best Buy posts 60 percent rise in Q2 income Best Buy (NYSE: BBY), which carries fitness equipment in select stores, reported a 60-percent rise in second-quarter net income as shoppers bought cell phones, appliances and tablet computers. Net income for the three months ended Aug. ...read more

Outdoor financials: Eddie Bauer to be acquired by private equity firms, plus Rocky Brands, Sport Chalet, Mammut to buy light company, Kellwood, Big 5, Outdoor Channel, Coleman, adidas, Johnson Outdoors

Eddie Bauer to be acquired by private equity firmsBarely a month after its listing on the Nasdaq, Eddie Bauer Holdings (Nasdaq: EBHI) has entered into an agreement to be bought by two private equity firms for $286 million in cash and go private. Under terms of the deal, a holding ...read more

Outdoor financials: Both sales and earnings drop for Garmin in Q2, plus Sport Chalet, Outdoor Channel, Rocky, Big 5, Eddie Bauer

outdoorBoth sales and earnings drop for Garmin in Q2 Garmin (Nasdaq: GRMN) posted a 27-percent drop in second-quarter revenue as all its business segments reported sales declines. For the quarter ended June 27, sales dove 27 percent to $669.1 million from $911.7 million. ...read more